According to The Hollywood Reporter, Laeta Kalogridis (Shutter Island) has been brought in to re-write the script for the remake. She’ll be re-teaming with Cameron after recently working on the script for Avatar, but was uncredited. The project has been in development for sometime, and has seen many writers attached to it. Twentieth Century Fox is probably hoping that Kalogridis will bring the same skills she used on Shutter Island to get the story right, and get the film into production.

Now that a new writer has been hired, and the script is looking to great, it’s time to get a director. Deadline Hollywoodis also reporting that Louis Leterrier (Clash of the Titans, The Incredible Hulk) is James Cameron’s number one choice to direct the film. The film will be using a lot of CG, and they could be looking to get someone who can handle that issue. Leterrier’s films haven’t been very heavy on CG, but Cameron will be there as producer to help. After all, Cameron isn’t any stranger to CG heavy films, and the same designers that worked on Avatar will be working on Fantastic Voyage. Fox is hoping to get a director attached so that production can begin early next year. However, the studio is still figuring out how much the budget of the film will cost.

Kalogridis is quite active in the film world, her most recent task being the writer and executive producer of Martin Scorsese’s latest film “Shutter Island”. Avi Arad is also attached to produce “Spider-Man 4″ which is still knee deep in pre-production. Dreamworks most recent films includes “Transformers 2: Revenge of the Fallen” and the upcoming Peter Jackson feature “The Lovely Bones”.